I just came back a short trip to India. The most striking thing that I observed was that a number of college grduates are opting to work for call centers and other BPO's instead of investing on higher education. Although, the short term gains arising from such a strategy are high, the long term implications on careers and the value delivered by the regional economy as a whole will suffer.
Attracted by low rate financing these youngsters are purchasing cars and houses with their 20-25k INR per month incomes and tying thmeselves to liabilities which will delay and even prevent their forays into higher education.
There are both pros and cons of what is happening in cities like hyderabad. I wish students think more deeply about such issues before joining the next hot shot BPO.